India's goods and services exports are on a remarkable upward trajectory, with projections indicating a surge beyond $900 billion in the fiscal year 2025-26. Commerce and Industry Minister Piyush Goyal, during his address to an Indian business delegation in Stockholm, highlighted this optimistic outlook despite the backdrop of global economic uncertainties. The minister's confidence stems from India's export performance in the previous year, which reached an all-time high of $825 billion, up from $778 billion in 2023-24.
The resilience of India's export sector is evident as it navigates through challenges posed by the Russia-Ukraine conflict, the Israel-Hamas war, and the Red Sea crisis. These geopolitical tensions have not deterred the country's trade momentum, showcasing the strength and adaptability of its economy. Goyal's statements underscore the government's commitment to fostering trade and investment, both domestically and internationally, to sustain this growth.
During his official visit to Stockholm, Goyal engaged with his Swedish counterpart and local companies to explore avenues for enhancing bilateral trade and investments. This diplomatic effort is part of India's broader strategy to expand its global trade footprint and secure new markets for its goods and services. The Federation of Indian Export Organisations (FIEO) supports this vision, projecting a 21% year-on-year growth that could elevate India's exports to $1 trillion by 2025-26.
The consistent growth in India's exports, with the U.S. remaining its largest trading partner for the fourth consecutive year, reflects the country's increasing prominence on the global stage. As India continues to navigate through global turmoil, its export sector stands as a testament to the nation's economic resilience and potential for future expansion. The government's proactive measures and the private sector's dynamism are pivotal in achieving these ambitious targets, setting a positive outlook for India's trade landscape.
Kalmar, a leading provider of cargo-handling solutions, has successfully completed a significant refurbishment project in collaboration with Africa Global Logistics (AGL) at the Port of Abidjan in Ivory Coast. The project focused on the overhaul of two ship-to-shore (STS) cranes, a critical component of the terminal's operations. This initiative is part of Kalmar's Modernisation Services program, aimed at extending the lifespan and enhancing the performance of port equipment.
The scope of the project included the replacement of key components such as the forestay and pivot point bearings, trolley rails, short rails, and trolley and guide wheels. These upgrades are expected to significantly improve the cranes' efficiency and reliability, ensuring smoother operations at one of West Africa's busiest ports. The project, which was booked in Kalmar's Q4 2024 order intake, was completed in Q1 2025, demonstrating the company's ability to deliver complex projects on schedule.
In addition to the physical refurbishment, Kalmar also provided a comprehensive maintenance training program for the port technicians in Abidjan. This initiative is designed to empower the local team with the knowledge and skills necessary to maintain the cranes in optimal condition, thereby maximizing their operational lifespan. Peter Bos, Project Manager at Kalmar, highlighted the importance of this training, noting its role in sustaining the long-term performance of the equipment.
This project marks another milestone in the ongoing partnership between Kalmar and AGL, which spans several years and includes similar refurbishment projects in other African countries such as Congo and Benin. AGL, a subsidiary of MSC, is a major player in Africa's port logistics sector, operating 17 container terminals across the continent. The successful completion of the Abidjan project underscores the mutual trust and collaboration between the two companies, setting a positive precedent for future endeavors.